Virtiply App — Terms & Conditions 2025

Account Holder

You are an account holder if you are registered with a Virtiply community account or have been authorized to use a Virtiply account. As either an account holder or authorized user, you will be bound by these Terms and Conditions.

You instruct all actions to be taken on your account and with your money via the authorized systems provided by Virtiply, who will perform a daily reconciliation on your account and provide compliance with all regulatory requirements demanded by the First National Bank of South Africa, the Payment Association of South Africa and the Financial Services Board.

Services Available

In terms of this agreement, you will be able to use the following services:

• Deposit of money into your VirtiCash or other community-linked wallet that will constitute an automatic purchase of VirtiCash tokens with your money
• Exchange VirtiCash tokens for various other tokens like VirtiGold, VirtiSilver and other tokens made available on Virtiply
• Exchange all other tokens back to VirtiCash tokens
• Exchange VirtiCash tokens back for money and transfer the money into your personal bank account
• Perform various transactions with your tokens, including paying merchants with VirtiCash and other tokens
• Purchase of pre-paid products and services offered by Virtiply or their partners
• Allocation of funds to your account / wallet

Registration & Allocation

You are responsible to ensure that you have the necessary equipment and software to use the service channels. Any information provided to Virtiply during registration is confidential and private. Virtiply will not disclose this information to anyone unless legally compelled, in the public interest, or with your written consent.

Virtiply requires a valid reference (your correct mobile phone number) in order to allocate funds correctly to your wallet / account. It is your responsibility to ensure that payers are aware of this required reference. Should no such reference be made, you have sixty (60) days in which to provide Virtiply with proof of the payment, failing which the funds will be returned to payer.

Security of Access Information

You are responsible for the safekeeping and proper use of your card, PIN and username and password. Never give or show anyone your access information, including any person who is an employee of Virtiply. You indemnify Virtiply against any damages, loss or liability that Virtiply might suffer as a result of any unauthorized access and/or use of your card.

Transaction Fees & Transactions

All fees for using Virtiply's services will be deducted from your Virtiply account immediately after confirmation of the completion of the transaction. Virtiply cannot act on or process your transaction instructions unless you have enough money in your account to cover both the transaction value and the transaction fee.

You are responsible for providing Virtiply with correct and complete information and instructions when you transact. Virtiply does not verify the identity or bank account details of the person or entity you are paying.

Certain transactions cannot be reversed or stopped once you send them to Virtiply. Transaction limits apply to transactions done on the service channels.

Cancellation of Access Codes

If you suspect or know that your access code(s) have been lost, stolen or used without your authorisation, you must notify Virtiply immediately and request a cancellation. If your cellphone is lost or stolen, you must immediately notify Virtiply and request us to delink your cellphone from your online profile.

After cancellation, Virtiply will reject all transactions done from the date on which your access code(s) were cancelled. Virtiply reserves the right to block your access to the service channels at any time to maintain or restore security.

Ending the Agreement

Virtiply may end the agreement at any time or end your right to use the service channels after giving you reasonable notice. Virtiply may also terminate the agreement if you commit fraud, if your behavior was inappropriate or constitutes misconduct, if you breach this agreement, or if you no longer have access to the equipment or services necessary.

You may end this agreement by notifying Virtiply in writing or by phoning their call centre. If the agreement is ended, you will still be responsible for all the transactions, instructions and fees.

Dormant Accounts

If you do not transact on your transactional account for 45 consecutive days, your account will be regarded as semi-dormant. If you do not transact for a further 45 consecutive days your account will be deemed dormant, irrespective of your balance. Virtiply will try to contact you to notify you of the dormant status of your account. If despite notification, you fail to transact on your account for a further 28 days and the balance in your account is equal to or below the minimum monthly service fee, the outstanding fee will be recovered partially and the account closed.

Important Notice

Nothing on the service is an offer, financial or professional advice to you. If one or more of the clauses is invalid it will not render the rest of the agreement invalid. This agreement will be governed by the laws of the Republic of South Africa without giving effect to conflict of law provisions.

We are obliged to suspend the transactional capability of your account unless we are in the receipt of proof of residency should you exceed either of the following: Account balance is R25 000 or more, or a transaction of R5 000 or more in a 24-hour period.